Russia warns scrapping grain deal if ‘idiots at G7’ ban exports to Moscow
Moscow: Russia warned terminating the Black Sea grain deal if the Group of Seven (G7) puts in place a total ban on the export of goods to the country.
“This idea from the idiots at the G7 about a total ban of exports to our country by default is beautiful in that it implies a reciprocal ban on imports from our country, including categories of goods that are the most sensitive for the G7,” former president and incumbent deputy chairman of the Russian Security Council, Dmitry Medvedev, wrote in his Telegram channel.
“In such a case, the grain deal – and many other things that they need – will end for them,” he warned.
Medvedev also said the move to completely ban exports to Russia could only “further exacerbate the global economic crisis.”
G7 nations considering near-total ban on exports to Russia
G7 countries – the US, UK, Germany, Italy, Canada, France and Japan – are considering a near-total ban on exports to Russia, with the exception of a few crucial categories such as medicines, agricultural products and food, Japan’s Kyodo news agency said in a report last week.
As per reports, the G7 plans to put this ban in place at the group’s next summit in Japan which is scheduled for May. The group would also persuade the wider EU to join the action.
Russia has persistently been threatening to scrap its participation in the grain deal which is due to expire on 18 May.
Earlier, Moscow also threatened to walk away from the Black Sea grain deal ahead of the 18 May deadline if the West does not lift restrictions on Russian agricultural and fertiliser exports.
If the ban on exports to Russia is put in place, it would result in scrapping of the remaining trade flows from Western states.
According to Geneva-based Trade Data Monitor, though EU and G7 exports to Russia has almost halved oved the past year following the Vladimir Putin’s full-scale invasion of Ukraine on 24 February, 2022, nearly $70 billion worth of goods from these nations are still exported to Moscow.
With inputs from Reuters
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